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Previous studies consider only capital as the quasi\u2010fixed input and do not take account of the time series properties of the variables, assuming implicitly that they are stationary. The canonical cointegrating regressions (CCR) procedure is employed to test for cointegration in both the single\u2010equation and the seemingly unrelated regressions framework, and long\u2010run equilibrium conditions are tested. The evidence from US manufacturing reveals that capital and labour are not fully adjusted to their long\u2010run optimal values, casting doubt on the long\u2010run equilibrium hypothesis. 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